Bear,
I will take a guess. I think the stock price has gone done because spending has gone way up as they have increased employee count from 100 something to 1000 something in like 2-3 years. Additionally they got the money (140m pounds) from public markets to fund this growth. In addition there y/y revenue numbers were declining. I believe that is why the stock was cut in half.
Contracted customers numbers
2017 477
2018 992
2019 1677
Does not seem like a slow sales cycle to me…but I really do not know. Just going off numbers.
https://investors.blueprism.com/sites/blueprism-ir/files/Ann…
According to company page 8, TAM is 10.2B for 2022.
Management sees a real opportunity in upsetting current customer base. Think WIX. The measure each new cohort and each cohort spends more money with them over time.
Anyway just started studying company few days ago, but I like what I have been reading.